Registration of Clubs (Accounts) Regulations (Northern Ireland) 1997

Petty cash float

9.—(1) Any cash payments shall be made from a petty cash float.

(2) There shall be no more than one such float.

(3) The maximum amount to be kept in such a float shall be fixed in advance by the committee.

(4) Where any payment is made for goods or services from such a float—

(a) a receipt shall be obtained showing—

(i) the name and address of the person receiving the payment;

(ii) the date of the payment;

(iii) the goods or services in respect of which the payment is made;

(iv) the amount paid; and

(v) the name of the person making the payment; and

(b) such receipts shall be consecutively numbered and signed by the person making and the person receiving the payment.

(5) Where money from such a float is used for any other purpose a record shall at once be made showing—

(a) the purpose for which the money was used;

(b) the amount of money used;

(c) the date on which the money was used; and

(d) the name and signature of the person who removed the money from the float.

(6) Where it is necessary to restore the float to the maximum amount fixed in accordance with sub-paragraph (3), such restoration shall be done only by the encashment of a cheque payable for cash.

(7) Each week a record shall be prepared showing from day to day all payments of petty cash and the balance held in the float.

(8) The amount of money in the float shall be checked—

(a) at least once each week by a member of the committee; and

(b) at the end of the financial year of the club by a member of the committee or an independent person.

(9) The amount of money in the float at the time of every check mentioned in sub-paragraph (8) shall be compared with the balance as shown in the record kept in accordance with sub-paragraph (7).

(10) Any discrepancy in excess of £5 (or such lesser sum as may be decided in advance by the committee) between the amount of money found at any check mentioned in sub-paragraph (8) and the amount shown in the record prepared in accordance with sub-paragraph (7) or any occasion on which the amount of money in the float exceeds the maximum amount fixed in accordance with sub-paragraph (3) by £5 (or such lesser sum as may be decided in advance by the committee) shall be treated as a system failure to which paragraph 26 shall apply.